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Dec 11, 2012
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berlusconi has announced he's creating a new center right grouping. meanwhile, mario monti has been accused oversimplifying solutions during the fiscal crisis. carolin is joining us now from rome. do we expect more of this rhetoric today? >> oh, definitely. not just today, but specifically over two months. elections will only be held probably on february 24th. we've got about two months of the silly campaigning season to follow. so yes, as you said, the verbal exchange is definitely heating up. it started with mr. monti's response criticism coming from officials about his renewed request for the prime minister post yesterday. he said this criticism was out of place. it was offensive not just for him, but also for all of the people in italy who have the freedom to vote. this morning, he did an interview with one of the channels here in italy and he said, i don't really care about this spread because the spread is based on fraud. that's the direct translation. meanwhile, if you take a look at the spread, they are moving higher again. 4.9%. italian equit
berlusconi has announced he's creating a new center right grouping. meanwhile, mario monti has been accused oversimplifying solutions during the fiscal crisis. carolin is joining us now from rome. do we expect more of this rhetoric today? >> oh, definitely. not just today, but specifically over two months. elections will only be held probably on february 24th. we've got about two months of the silly campaigning season to follow. so yes, as you said, the verbal exchange is definitely...
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Dec 28, 2012
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it's not like berlusconi has a record of fiscal spending. >> no. but i guess also the times were different. >> the times were different but the interest rate was slightly higher than it is now. but the primary surplus of the country ran over that period which was an acceptable 3% on average is already right now reached once again. so all the parameters are in the right place and the only thing the next government needs to do is actually nothing. if it does nothing, if it doesn't reverse the reforms -- >> what's interesting is what berlusconi is campaigning on is austerity. he's running on an ant anti-austerity pro eu package. while it's untenable, it does have a certain amount of certainly backtracking the fiscal returns for them. >> exactly. this property tax, i think that's a cause for concern. if you were to repeal that, the fiscal position on would be unsustainable and he would have to raise taxes elsewhere to make up for that. that would be some messy negotiations with him on a european level. markets would be very concerned already heading in
it's not like berlusconi has a record of fiscal spending. >> no. but i guess also the times were different. >> the times were different but the interest rate was slightly higher than it is now. but the primary surplus of the country ran over that period which was an acceptable 3% on average is already right now reached once again. so all the parameters are in the right place and the only thing the next government needs to do is actually nothing. if it does nothing, if it doesn't...
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Dec 11, 2012
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berlusconi coming back maybe? >> i think the market is overreact ing. at the end of the day it's italian politics and berlusconi we're dealing with. it doesn't surprise me we bounced back to 1.30. it's not a december trade. when we get closer to an election in february we'll start to take a look. it was way too premature to react given all we know about italian politics, scott. >> we're watching the fed i know as you are. how does your trade factor in to the fed meeting if at all? >> look, i don't think the market will get much out of the fed tomorrow than we already know. you know, we're likely going to see operation twist get replaced with longer dated bond buying to the tune of $45 billion. we know that. i think the surprise would come if they set the target at a specific unemployment rate. i think that's premature, scott. it's january, more more likely helping along of that ilk would come out. i don't think the fed does a lot for the dollar. >> you're trading euro yen. >> a good proxy for risk. i like buying it at 107. i'm starting 110.50, stop-loss
berlusconi coming back maybe? >> i think the market is overreact ing. at the end of the day it's italian politics and berlusconi we're dealing with. it doesn't surprise me we bounced back to 1.30. it's not a december trade. when we get closer to an election in february we'll start to take a look. it was way too premature to react given all we know about italian politics, scott. >> we're watching the fed i know as you are. how does your trade factor in to the fed meeting if at all?...
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Dec 10, 2012
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at the same time, very controversial former prime minister silvio berlusconi also said he is run fog are the prime minister post again. so this is got markets extremely wore rid. here's why. because markets are concerned that the new government would be elected on february 24th, that this new government will not be implementing the austerity measures that mr. monti has implemented over the last couple months. but is this concern actually warranted? well, if you speak to a number of analysts, well they'll say, no, because if you look at the opinion polls you'll see that the party which will most likely win, that's the democratic party. and he said, or the leader said, look, we're going to stick to the austerity measures that were implemented by monti. >> carolyn roth for us in rome tonight. coming up, jcpenney ringing up discounts. what this dramatic change in pricing strategy spells out for its ceo ron johnson and his future. and of course, the stock, we'll be right back. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet
at the same time, very controversial former prime minister silvio berlusconi also said he is run fog are the prime minister post again. so this is got markets extremely wore rid. here's why. because markets are concerned that the new government would be elected on february 24th, that this new government will not be implementing the austerity measures that mr. monti has implemented over the last couple months. but is this concern actually warranted? well, if you speak to a number of analysts,...
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Dec 14, 2012
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but, okay, sometimes there are some comeback kids and berlusconi could be one of them. he did say that if monti would stand, he would resolve his claim to anything, but he wanted to prevent a shift to the left in italy. that's something angela merkel could support. although she might have to face her own transition to the left as we face elections in september. it's hoped mario monti would stand again and would stay in place because clearly that was the sort of work in progress that worked well. down with the euro and italy has to walk its own way. that is not something that we would like to hear in the eu eurozone or in berlin. >> silvia, thank you so much for your time. >>> now, a weak ahead of the person of the year, the winner, north korean leader kim jong un. the magazine didn't admit that various online campaigns were at work to influence the vote. not necessarily a legitimate tell on who readers would like to see as person of the year. so we're going to cast our own poll on "worldwide exchange." who is your pick for person of the year? e-mails us here, tweet us.
but, okay, sometimes there are some comeback kids and berlusconi could be one of them. he did say that if monti would stand, he would resolve his claim to anything, but he wanted to prevent a shift to the left in italy. that's something angela merkel could support. although she might have to face her own transition to the left as we face elections in september. it's hoped mario monti would stand again and would stay in place because clearly that was the sort of work in progress that worked...
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Dec 6, 2012
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. >> the "b" word, berlusconi, incredible. see you later. if you're just joining us here is what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here is what's happening so far. >> a sound fiscal position is necessary to protect the economy. >> okay. >> if we don't do that, as this economy recovers, that recovery is going to be aborted and that's going to do damage. >> 370,000, a drop of 25,000, because the 393 originally released last week was upgraded a couple of thousand. >> people are truly perplexed about what the stock is, where it got to, what do you do with it. >> so you can come up with a million reasons. it's manufacturing, well, maybe it is manufacturing, but is there really a demand question about apple's products? [ bell ringing ] >> there is a scenario says and some people believe in it, go over the cliff and if about two, three days we'll have it settled. . look if we knew that was going to happen i'd say go over the cliff. two or three days is not going to do any harm. suppose it's two or
. >> the "b" word, berlusconi, incredible. see you later. if you're just joining us here is what you missed earlier this morning. >> welcome to hour three of "squawk on the street." here is what's happening so far. >> a sound fiscal position is necessary to protect the economy. >> okay. >> if we don't do that, as this economy recovers, that recovery is going to be aborted and that's going to do damage. >> 370,000, a drop of 25,000, because...
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Dec 17, 2012
12/12
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talk maybe about berlusconi's engagement we we come back. the s military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. >>> the european markets are closing now. >> and with that we surveyed the landscape of both green and red. want to bring in michelle caruso-c
talk maybe about berlusconi's engagement we we come back. the s military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. [ male announcer ] how do you trade? with scottrader...
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Dec 27, 2012
12/12
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one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not really affecting the market. yields are low, confidence still in there. some italian banks rose on the back of that. not huge moves. you can see bpms, up 2.2%. in the center of europe where it was concentrated, other banks moved higher. i'll show you those, lloyds, in the netherlands. and one is a bank here. a tragedy really in spain. essentially 350,000 small shareholders you could argue, were conned to buying the bankia stock when the government owned it last year. they had products based on subordinate debt. we learned the bank's net worth is minus
one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not...
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Dec 11, 2012
12/12
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sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are currently trading so many basis points above the germans on their hourly bulletins. that was one of the reasons why at the height of it berlusconi was kicked out of power. he's saying now this is a total calm. italians essentially should ignore it. he said the spread is a con. back to you, carl. >> he is back. silvio is back. >>> as we head into the final fomc meeting of 2012 fed policymakers have traders on edge. want to get to rick santelli on that in chicago. >> i'm on edge, all right. let's do a summary before i bring my guest and friend art nolan in. december 5th you hav
sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadcasts internally. they say our bonds are...